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CBS
Dec 21, 2012 5:30pm PST
cliff. the republican speaker of the house tried to force through his solution last night but he couldn't keep his own party in line. nancy cordes is at the capitol. nancy? >> reporter: scott, this was an unforced error. speaker boehner did not have to bring this plan "b" bill up but he was simply trying to get more leverage in negotiations with the president. instead, the misstep left him weaker and there is genuine confusion among both parties tonight about what to do now. speaker boehner left the capitol for the holiday this is afternoon, 18 hours after his risky move backfired. >> we didn't have the votes to pass it. it's not the outcome that i wanted. boehner wanted the house to pass a bill extending the bush-era tax cuts for all households making less than a million dollars a year. but a few dozen conservatives balked, saying it amounted to a tax hike on millionaires. louisiana's john flemming was one of the holdouts. >> raising taxes on any american to me is not the right message. the right message is cutting spending. >> reporter: a defeated speaker boehner said the presi
MSNBC
Dec 21, 2012 11:00pm PST
with the fiscal cliff? i think there is an association that many people have in their mind between the nra and the republican party. obviously, the nra more supportive of gop candidates, by and large, than democratic candidates. and the statement he made today about arming someone in every school i think is out of the mainstream. aren't these all related problems that people are perceiving the republicans as being out of sync, way too conservative? >> i think that what president obama has tried to do from the start of these negotiations is to try to divide and conquer the republican party and destroy the republican party. and the way the republican party would be destroyed is if republicans abandon their basic principle. i don't want the talk about gun control, because i don't know a lot about that. but i will talk about this. if the republicans abandon their principles of limited government and less taxes, no. republicans can't vote for a tax increase because republicans don't believe in raising taxes. we don't want to raise taxes on anybody. we don't want to raise taxes on millionaires. we don't want the raise t
ABC
Dec 22, 2012 6:00pm EST
work with democrats to avoid the fiscal cliff. this comes a day after president obama said he will pursue a less am by shougs budget deal with republicans. there is good news no matter what congress does to address the problem, it is too late for employers to with hold income taxes from paychecks next month. employers are going to with hold the tax for the 2012 rates. >> president obama is restricting the number of inaugural balls to the lowest number in 60 years. there will be only two official parties right now. there was 10 held the last time around. there will be a concert honoring military families held on saturday before the inauguration. >> before the ina ration christmas. we are three days away. the holiday came a little early for some people. the women's organization has been an outreach to families that have people that are ill or incarcerated. >> thank you for all the people have done. this is overpowering. >> tears of joy as the washington wizards and volunteers delivered bags of gifts to her home. >> my goal is not to just play barble but do things the community. >> his daughter recently passed away after a battle with cancer leav
MSNBC
Dec 21, 2012 4:00pm PST
work with democrats that avoids the fiscal cliff all together. republicans should support passing a bill that extends tax cuts for families up to $250,000 and delays the so-called sequester while we negotiate additional policies next year. but the bottom line is moving forward will require cooperation from speaker boehner and senator mechanic connell. we hope they'll return from christmas ready to coop rate. >> well, you know, senator reid can try to fill that vacuum. but he controls one-half of one of the two bodies in congress. it still boils down to this dynamic that hasn't changed now for a year and a half. the democrats, and you've got to include reid and the president, are ne kboesh uagotiating with by john boehner who, despite whatever he may want to do himself, can't bring together his own team. he's being held hostage by his own kau cuss. now, i wrote this in the book i had about the last time we went through this a year and a half ago, that mitch mcconnell is one of the craftiest negotiators on capitol hill. last year, when we had this fight of the payroll tax cut, he lean
CNN
Dec 21, 2012 11:00pm PST
would fail is it would involve trying to blame obama if we went over the fiscal cliff and republicans don't think the media would accept that narrative. i don't know. you would know better than i would about how the media would react to that. that was a feeling on the republicans part they couldn't successfully pin obama with going over the cliff. >> i never speak for the media. i speak only for myself. i don't know. it is going to really depend, don't you think? matt, you have a column back in december that said john boehner cat herder and i was thinking the cats got the better of the speaker. what do you think that means for his future? does he remain as speaker? does someone else come in and take over because it is an indication he can't control his own group? >> well, it certainly wasn't a vote of confidence. i think, john boehner was right. he gave that press conference today and said, you know, people like me, it is true, i talked to congressman and they like boehner and the problem is they don't respect him enough to listen to him and they don't fear him and it is sad if you think ab
MSNBC
Dec 21, 2012 5:00pm PST
doing everything he can to avert a fiscal cliff disaster for the middle class. the republican implosion gives democrats even more leverage in the fiscal cliff negotiations. i'll ask dnc chairwoman debbie wasserman schultz will this latest move by the president be enough? >>> revolting, tone-deaf, disastrous. the nra blames everything but guns for gun violence in america. including 20-year-old video games. >>> a and they reverse an opportunity to heal the country for a commercial for more guns. >> the only thing that stops a bad guy with a gun is a good guy with a gun. >> congressman jim moran and reverend jesse jackson react to today's circus. >> this is the beginning of a serious conversation. we won't be taking questions. >>> reporting for duty. and john kerry biographer douglas brinkley on the senator's big nomination. >> good to have you with us tonight, folks. thanks for watching. it's home for the holidays with no deal. house speaker john boehner only has himself to blame. boehner's plan b gimmick failed big-time last night at this point a fiscal cliff deal with boehner's members
PBS
Dec 21, 2012 6:00pm PST
school students from around the country. also, the state of the fiscal cliff after a split among republicans; plus shields and gerson. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: the streets of egypt's second largest city were filled with clashing islamists and their opponents today. the groups confronted each other in alexandria. it was the eve of a final-round vote on a draft constitution that's backed by islamists and president mohammed morsi. supporters of morsi and protesters threw rocks at each other, and riot police intervened with tear gas. officials said at least 40 people were injured. it was unclear who started the fight. north korea has detained an american citizen, and says he confessed to unspecified crimes. he was identified today as kenneth bae, a korean-american tour operator from washington state. north korean state media said he entered the country, with a tour, on november 3. the north has detained five other americans since 2009. all were released, eventually. american leaders past and present paid tribute today to the late senator daniel ino
PBS
Dec 21, 2012 4:30pm PST
the fiscal cliff. speaking to reporters from the white house he said he's ready and willing to get a comprehensive packageone,ut it's up to republicans and democrats to make it happen. >> nobody gets 100% of what they want. everybody has to give a little. >> susie: the president also proposed a smaller package that prevents taxes for 98% of americans from going up and for unemployment insurance to be extended. he pressed lawmakers to agree on this in the next ten days. darren gersh has details. >> reporter: one day after the collapse of efforts to avoid the fiscal cliff, all sides were speaker boehner tried to shift that burden, saying democrats unemployment insurance to be extended. >> we can't cut our way to prosperity we need real economic growth. and many of us believe on both sides of the aisle that fundamental reform of our tax code will help us get our economy moving faster and put more americans back to work and more americans on the tax rolls. how we get there, god only knows. >> porter: oters who expected congress to watch over the >> so i think the tax issue and the job issue needs to be looked >> reporter: voters who expected
CSPAN
Dec 21, 2012 8:00pm EST
that we must preclude going over the fiscal cliff, by a balanced agreement that democrats and republicans him support, the president can sign, and that can pass the senate. we should not seek taxes go up on working-class americans. we should not see doctors put a risk in terms of their delivery of services to seniors. we should not see the alternative minimum tax and put at risk. we need to lend confidence to our country. some years ago, he confronted partisan gridlock. newt gingrich and bill clinton got together to reach an agreement it was very controversial. newt gingrich said -- this is october 20, 1998. "i will say to each and every member of this house, unless they have a plan they think can get 218 votes over here, can pass through a filibuster in the senate, and get signed, there is no responsible vote except yes." america expects its congress to get to yes. we are prepared to work with the speaker and with the republican leadership. we all need to be willing to work with the president of united states to get to yes, for our country and for our constituents. now, and want to yield to
CNN
Dec 22, 2012 7:00am PST
supported. and that was president obama's plan to make sure to do this, deal with the fiscal cliff in a balanced way, which included raising the top tax rates for those making more than $250,000 a year. and so i hope that the republicans remember what the american people have said or else they're not going to be in a good political position for a very long time. >> speaking of the republicans, amy, house speaker john boehner, he had his plan b which was going to allow for 1990 tax levels for millionaires. keeping tax breaks for others. but he couldn't get it passed. never even went to a vote. what do you think his future looks like? is he done as house speaker? >> well, goodness, i won't make predictions about the republican caucus and the house and their ideas who've they want to lead them. but i think also the president needs to understand who won elections on the other side of the aisle. this november, republicans were returned to the house to be in charge, to keep a break on some of this runaway spending that we've been seeing that's been going on with trillions in deficit. and i think that the president has puts himself in a very difficult position, that he's been so intractable on being able to negotiate with republicans
MSNBC
Dec 22, 2012 4:00am PST
republicans actually hoping go over the fiscal cliff because any vote on taxes technically would be to cut them? >> we've heard some republicans say that, but i think overall, they know. both sides know that to go over the cliff, will lead to political consequences. polling suggests that republicans would suffer the most if something like that happens. the speaker especially labeled unpopular and somewhat responsible for this, and i think republicans will help that. taxes shurnt go up. if they were to go up by law, conceivably they could come back in january and lower them and campaign on the fact that they lowers taxed. >> let's take a look at what speaker boehner said on friday. >> many of us believe on both sides of the aisle, the fundamental reform of our taxes will help get our economy moving faster and get more americans back to work. how we get there, god only knows. >> so the president says he's going to head back to washington after christmas to try and hammer out a deal before new year's. babe boehner said god only knows, god and ed o'keefe. how do they get there? >> for practical reasons there, are bills sitting in eith
MSNBC
Dec 22, 2012 1:00pm PST
prevent the fiscal cliff. the other is the grand bargain, and time is running out, it's unlikely you will get something like that, however, there's a chance that john boehner and republicans say, mr. president, the last offer that you had on the table, we agree to. and the third option is going over the fiscal cliff and as my colleague has pointed out time and time again, that seems to be the more likely option for everyone, because you end up going over and then that would allow republicans to countenance cutting taxes the way that president wants to do and that seems to be the direction we will be going. >> that third option, juftd going over the cliff, what are you hearing from the white house? is there a sense of confidence that if that were to happen that they would rebound better than republicans? >> reporter: well there's a sense in part, if you look at the polls, the majority of americans say they would blame republicans if the country were to go over the fiscal cliff. the white house feels they are in a strong position right now, in part because of the president winning re-election, he ran on the platform of increasing taxes on the wealthier americans. there's a sens
FOX News
Dec 22, 2012 11:00am PST
fiscal cliff is in a sense artificial, if he has the power to raise taxes next year for six months and then get down to serious negotiations after the congress-- >> and should republicans be willing to raise rates? say we lost the election, now what, we're just going to, we have to do it. >> well, i think if the president had put something that was like $1 of tax increases for every $4 that he was cutting, then there could be an argument for doing that, but he's not there. >> paul: all right, mary, thank you. still ahead, four state department officials were removed from their post after a report about the u.s. consulate attack in benghazi. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >> a scathing report this week blames systemic failures in leadership and ma
FOX Business
Dec 22, 2012 12:00am EST
with the president with some strategy moving forward to avert the fiscal cliff. we expect the president to say that he still wants to get a deal with republicans to do that. that is still going to be time. however, that they will have to do it after the christmass3 holiday. the president plans, is planning to go to hawaii for christmas with his family. speaker boehner has left town. gone back to ohio. for the holiday. the senate is expected to come back on, on december 27th, the thursday next week, which is the earlit that they would be expected to get back to work on this. melissa? melissa: peter, who's left? sounds like it is a ghost town there. sounds basically two guys that are still left working. >> yeah, i don't know if they will be here very much longer. but listen, realistically, it's the holiday season. a lot of members, the presidt, they all made plans, and after last night with speaker boehner, pulling his pl b, it doesn't look like, there are no signs of anyegotiations or any plans for any negotiations. it looks like everyone just wants to go, be with their families and spend the holiday time together before they try to hammer out a s
FOX Business
Dec 21, 2012 7:00pm EST
that wins majority support in both the house and senate, and the decision to go over the fiscal cliff now depends on his ability to successfully negotiate and to forge a compromise that appeals to both republicans and the far left in mr. obama's party. the president met with senate majority leader harry reid this afternoon and talked with speaker boehner to begin anew that effort to reach compromise. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbers, $1 trillion in new revenues, 850 billion in sp
FOX News
Dec 21, 2012 8:00pm PST
tirelessly for his release. and later a civil war among republicans in congress as the fiscal cliff looms. so what happens next? moments away. i always wait until the last minute. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults and children one year and older whose flu symptoms started within the last two days. before taking tamiflu tell your doctor if you're pregnant, nursing. have serious health conditions, or take other medicines. if you develop an allergic reaction, a severe rash, or signs of unusual behavior, stop taking tamiflu and
FOX News
Dec 22, 2012 1:00am PST
the fiscal cliff during the campaign it was a great point for republicans. >> bold fresh leadership just like o'reilly factor bold and fresh. we need to hear that during the election. i hope people. >> laura: that would have be nice. >> congress doing the right thing would be good. >> laura: chris and dee dee thanks so much. plenty more ahead as the factor moves along tonight. fair and balanced reaction. plus obama nominates senator john kerry for secretary of state. but only after losing out on his first choice. was this a smart pick? and later the nra excoriates the media for their coverage of the connecticut school shooting. you do not want to miss this. stay tuned for these reports. nom fact for follow up segment tonight late this afternoon the president came out to address the impending fiscal cliff scenario. once again he he made a case for raising taxes on the top 2%. jing us now to respond dick harr harr boot alan. the president came out late afternoon inconveniencing the media which is the way it goes. he didn't say anything new. he said i'm an optimist and we should all ta
FOX News
Dec 21, 2012 5:00pm PST
going to go down this way. you hardly heard anything about the fiscal cliff during the campaign it was a great point for republicans. >> bold fresh leadership just like o'reilly factor bold and fresh. we need to hear that during the election. i hope people. >> laura: that would have been nice. >> congress doing the right thing would be good. >> laura: chris and dee dee thanks so much. plenty more ahead as the factor moves along tonight. fair and balanced reaction. plus obama nominates senator john kerry for secretary of state. but only after losing out on his first choice. was this a smart pick? and later the nra excoriates the media for their coverage of the connecticut school shooting. you do not want to miss this. stay tuned for these reports. no, has ever turned down a handmade ornament. that's why we sat up santa's wonderland at bass pro shops. kids can get their free picture with santa, and this week make a... all for free. ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do share "not even close." share "you owe me..." share "just right." the share everything plan. shareable data acr
FOX News
Dec 21, 2012 11:00pm PST
republicans in congress as the fiscal cliff looms. so what happens next? moments away. >> continuing now with top story this evening. today corporal john hammarar found out he is going to be spending christmas with his family rather of course alone in a mexican prison. hammar's family is from florida. several members of the florida congressional delegates including senators bill nelson and marco rubio helped lead the fight to free the marine. but perhaps the most vocal of all of them was congresswoman ill anna ross layton who joins us now from miami with the inside story of how this all went down. congresswoman roth layton, it's so good to see you. >> thank you, laura. >> laura: beaten up in congress. approval rating is down. but now we see congress actually gets rules with the help of the factor of course and all of fox news. go ahead. tell us what happened. how did this all go down? >> well, absolutely fox news and o'reilly factor you guys saved his layoff. i mean literally, remember that as you said in the top of the program the parents tried to do it it the old fashioned way. joh
CNBC
Dec 21, 2012 7:00pm EST
. >> well, for a lot of reason. dan greenhaus, you know what happens? if the fiscal cliff goes to january, the middle class tax cuts won't be extended, right? they end. but if you're a republican in the house, you'll be voting for a tax reduction. in other words, the first they expire on december 31st. i want to make this point, it's a simple point, but it sounds complicated. they expire. then january 1st or whenever. republicans can vote for a tax cut to put them back in the place. that could be redempive. that could be the spiritual redemption. >> the first of two is we were talking, roughly speaking about $1 trillion, $1.2 trillion in tax increasesment on january 1st, we're going to be talking about a $3.8 trillion tax reduction. the biggest, i think, listen, i don't think the republicans acquitted themselves as terrible as some were making out yesterday. but what they did do that was quite poor. if you're president obama from a legacy standpoint, you got a big boost right now. what i mean by that is on january 1st, the bush tax cuts are no more. >> right. >> going forward for the rest of our lives, we're going to be talking about the largest tax cut in history as the obama ta
KRON
Dec 21, 2012 5:00pm PST
looming fiscal cliff will need to be a bipartisan solution. >>reporter: senate republican leader mitch mcconnell said the next move needs to come from the president. >> he is the only one that can do it. this isn't john boehner's problem to solve. >>reporter: without a deal, steep tax hikes and massive government spending cuts are set to trigger after january first. in washington, i'm karin caifa. kron4 news for a more >> indepth look into the into the challenges, the president and congress face -- as the fiscal cliff deadline ticks forward. kron4's political analyst will join us tonight, at 5:30. >> pam: police now say the deadly home invasion -- that rocked a wealthy silicon valley suburb -- was *not random. raven dixon was arraigned in a santa clara court today on charges of being an accessory to the murder of raveesh kumar kumra durung a home invasion-- back on november 30th. dixon was led out of the san jose courtroom in chains after the judge put her bail at one million. a pre-trial hearing is set for the middle of january. >> in san jose, police ordered a school locked dow
CSPAN
Dec 22, 2012 7:00am EST
. they are talking about, can we get past where we are in the fiscal cliff. host: we are talking with steph en dinan, the political politics as a at the washington times. but our next call comes from cal in tennessee on our republican line. caller: the tax increases are not enough. when you look at 1 $3 trillion over 10 years -- this president over the last -- when you look at $1.30 trillion olver 10 years -- over 10 years, we have spent $4.60 trillion or $4.70 trillion every year. what we need is more cuts in programs so we actually have more. we need $4.60 trillion in cuts to programs. if we are going to be back on the fiscal plan we honestly need. this president was elected by people who were already democrats in 2008 and 2012. he did not have a hard time getting reelected. we made a mistake about electing this guy for sure. guest: the caller has a lot of good numbers. these are rough, but about $2.30 trillion in revenue. last, we only had $1 trillion in deficits. his point is correct. the problem is you have the government taking in 60% of gross domestic product in tax revenue and spending between 23% or 24% in gdp in spending. we are borrowing 40 cents on every dollar that we stand. that has to close. i mentioned t
MSNBC
Dec 22, 2012 11:00am PST
cliff and all polls, actually show that republicans would bear the brunt of the blame for that. so i wouldn't want to be in john boehner's shoes right now. >> either way, if it is the first scenario that mark marked out for us, if not speaker boehner, then who might replace them should there be a revolt here? eric cantor, just a year ago we were watching 2011 and it seemed like he was waiting in the wings. when you look at that, what might be the situation here? >> well, i think the situation is, i agree with mark that speaker boehner is in a tough position and you can't beat someone with no one. eric cantor could not, as i see it right now couldn't get the support to be speaker and there's no one else out there right now that could make a move because there's no one out there who could necessarily do a better job than john boehner and john boehner is somebody who could bridge the various factions in the republican family. >> who is better for the democrats here. when you look at speaker boehner, they say he's the more moderate of the possibilities that are out there, but if he's una
ABC
Dec 21, 2012 6:00pm PST
as republicans plot their next move at the edge of the fiscal cliff. stay with us. abc 7 news at 6:00 continues in just a moment. >>> a bay area protestor hustled out of a news conference where the nra breaks it's silence by suggesting there should be more guns on campus, not fewer. >> nra says there should be an armed police officer at every school. >> abc 7 news mark matthews is here, got quite a reaction today it did. and a few expected the nra to come out in favor of gun control but executive vice president never brought it up. national rifle association sent a sharp mess yachblgt no retreat. >> the only thing that stops a bad guy with a gun is a good guy with a gun. >> nra meter said what is needed is an armed police officer in every single school. and he accused washington of rank hypocrisy for protecting the president but failing to do the same for school children. >> we as a society leave them every day utterly defenseless. >> nravp unloaded on the news media and condemned producers of violent video games and the police chief points out there is no mention of gun autos to s
FOX Business
Dec 22, 2012 4:00am EST
beakers failure to win republican support in the house for his plan the proposal on the fiscal cliff has ebarrassed the speake but the speaker's failure means a solution to the fiscal cliff is, if they're going to be one, now resting squarely upon president obama. arsine to be vacationing president alone cannot propose legislatio that wins majority support in both th house and senate, and the decision to go over the fiscal cliff now depends on his ablity to successfully negotiate nd to forge a compromise that appea to both reublicans and the far left in mr. obama's party. the president met with senate majority leader harry reid this afternoon and talked with speaker boehner to begin anew that effort to reach copromise. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that gorning is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there ae o
FOX News
Dec 21, 2012 4:00pm PST
mark about how the markets will do on monday. our 401(k)'s took a hit today thanks to the fiscal cliff drama the markets tanked after house republicans cancelled the vote. congress the final friday before christmas go without a deal. the dow dropped 120 points. the nasdaq lost 29. the s&p lost 14. adam shapiro of the fox business network. for weeks it's been reported that investors had already figured into the numbers if you will the fiscal cliff. why are we here? >> you mean at the point that we're down on the dow and down today? >> harris: yeah. >> first of all it could have been worse. when you saw the future last night what he would realized there was not going to be a deal in the house investors said it's not going to be good. they pulled back. there is still 10 days. some investors believe that will happen. priced. in big money investors already pulling out of the market. they were selling some of their stocks in anticipation what will be a tax hit for them no matter what. they were getting ready for. this you still have optimism among some investors that there could be a deal. monday is going to be a low volume day. it's a half day of t
MSNBC
Dec 21, 2012 7:00pm PST
will pass. the clock is ticking until the nation goes over the fiscal cliff and taxes go up for every family in america. but there is still time for the speaker to hit the brakes and avoid that cliff. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates should not go up for the other 98% of americans, which includes 97% of small businesses. every member of congress believes that. every democrat. every republican. so there is absolutely no reason, none, not to protect these americans from a tax hike. at the very least let's agree right now on what we already agree on. let's get that done. >> the house of representatives now stands in recess until thursday, december 27th. just four days before we step off that fiscal curb. this week, the office of management and budget issued guidance to government agencies outlining the potential impact of the $1.2 trillion in budget cuts, which will start to take effect on january first, if congress does not act. joining me now is ezra klein, columnist for "the washington post" and an msnbc analyst, ezra, i just want to talk first about the spending side. because we t
CNBC
Dec 22, 2012 4:00am EST
fiscal cliff plan. speaker boehner says they'll be going on vacation without legislation. everyone assumes the fiscal cliff negotiations are done for the moment. suppose the newfound bears conventional wisdom is wrong. suppose if we don't go over the fiscal cliff or at the very least we get resolved with minimum destruction as i talked about at the top of the show. my super bowl see you in new orleans solution. i'm not saying this will happen. i'm saying this positive scenario is very much on the table. it has to be considered. and in that rosy okay things are all right scenario, good things could happen to our stock market in 2013. let's say you're an optimist that believes the fiscal cliff will be resolved and they rise above. what's the best way to play a fabulous bull market that some think could be unleashed? simple. assuming that everything goes right, the best proxy for the market in 2013 is the blackstone group. the big publicly traded asset firm. why blackstone? a company that i wasn't keen on. the company earns money investing other people's money. private equity funds. a
MSNBC
Dec 22, 2012 9:00am PST
. >> david, are republicans actually hoping to go over the fiscal cliff because then any vote on taxes technically would be to cut them and could go forward without saying we cut taxes? >> that's a good point. inning way to look at it. it would probably give some cover to those republicans that seems clear however big a group that is that will not vote to raise tax necessary any way. you heard yesterday's speaker boehner blamed the -- downfall of his own plan b on the idea that, you know, many thought without it raise tax owes those making over $1 million. i think what the problem of going over the cliff, republicans and doing a tax cut, would give up some of the leverage probably enforcing president obama to come to the table with more spending cuts. if they go over the cliff they believe more americans will blame republicans. some polls show that americans are fed up and would blame both parties. i think that'sing? they would have to keep in mind. >> let's take a listen to what speaker boehner said friday. here it is. >> many of us believe on both sides of the aisle the fundame
CBS
Dec 22, 2012 6:30pm EST
close a deal to end the fiscal cliff crisis. taxes for 90% of us will go up in days unless an agreement is reached. president barack obama is now in hawaii for christmas with his family. yesterday, he urged the congress to adopt a stopgap measure to keep benefits flowing to unemployed workers that prevent taxes from rising on income under $250,000 a year. house speaker john boehner, he's home in cincinnati tonight. he failed the get mobs of his -- to get members of his own party to support the plan b. proposal for ending the crisis. today boehner was blaming democrats for the stale mail by refusing to include -- stalemate by refusing to include entitlements in the proposal. >> what the president is offering so far won't do anything to solve the problem. instead he wants more spending and more tax hikes that will hurt the economy. and he refuses to challenge the members of his party to deal honestly with the entitlement reform and the big issues that are facing our nation. that's why we find ourselves here today. >> president said on friday that since the deal has not been reac
PBS
Dec 21, 2012 6:30pm PST
-called fiscal cliff of automatic spending cuts and tax hikes comes ever closer. >> his proposal, known as plan b, was shot down by republicans who refuse to support any tax increases. the plan would have raised taxes on income over $1 million. he says it is now up to president barack obama to come up with a solution. >> what could that mean for ordinary americans? our reporter went to find out. >> store manager jennifer thomas sells trendy designer fashions at her boutique in the u.s. capitol, washington, d.c. it is a tough business. competition is fierce, and it could get worse if the u.s. were to slip over the fiscal cliff. automatic tax hikes across the board would mean less disposable income for american consumers. >> i think our biggest concerns here are we will not be seeing people purchase as many items as they have in the past. we will see people buy jeans and a top, but they will not buy an additional pair of jeans or a dress on top of that. >> many customers are already pinching pennies. >> it has put a lower ceiling than normal on what we can spend for the holidays, our expenditures for our home, our plans for next ye
ABC
Dec 22, 2012 6:00pm EST
night with no agreement to avert the fiscal cliff. house speaker john boehner is home in ohio tonight. >> washington has a serious problem tonight. the president's solution of raising taxes -- >> the republican leader of the senate took a holiday swipe at democrats. >> i'm stuck here at washington. >> reporter: we're learning more tonight about how the negotiations fell apart. the wall street journal quoting unnamed sources when the speaker offered $800 billion in revenue by limiting deductions the speaker asked what do i get? the president reportedly responded, you get nothing, i get that for free. unable to agree on a big deal, the president is now hoping to get a small deal, extend middle-class tax rates and agree to a framework for a big deal. >> that's an achievable goal, that can get done in ten day zblrs can it? consider the speaker's other words which are really echoing about making a deal. >> how we get there, god only knows. >> the president wasted no time getting into vacation mode. he went golfing today in hawaii. white house officials told me that staff from both sides are talking through e-mails and phone calls and will through the next couple of days. we expect congress to come back
WETA
Dec 22, 2012 6:00pm EST
cliff. the main objective that obama had was not a fiscal 1 but political, to follow the victory in november by creating civil war among republicans over the tax issue, which is exactly what happened. he said the 1 requirement i have for any deal is hiking tax rates. the reason that boehner was not able to do plan b was because it involved breaching the principle, which she did openly and said he was ready to do it. then conservatives said they would not do it. that is now a fracture in the party that will be extremely hard to reconcile. if you can not, how did you get a deal done before january 1? i am not sure they can be done that is essentially the problem the president faced with boehner two years ago, last year. can he deliver? how can you negotiate with someone who cannot deliver his side? >> you go to people for support, at least three of whom have lost their committee assignments. how can you expect them to come into your way of thinking? >> and they were growing when john boehner went down, taking some delight, but that was cleared, that was pre-cleared by the leadership.
CNN
Dec 22, 2012 4:30am PST
fiscal cliff. the first family arriving in hawaii for the christmas holiday there, you see president getting off the plane, but before he left, president obama urged republicans and democrats alike to get it done. >> in the next few days, i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> congress is also in recess until after christmas. in his weekly address, house speaker john boehner accused the president and senate democrats of failing to offer a responsible solution. boehner's own proposal had to be pulled this week after he failed to get enough support from fellow republicans. >>> and the national rifle association promised meaningful contributions to avoid another tragedy like the one in newtown, connecticut. friday, the gun rights group unveiled that plan. nra executive vice president wayne lapierre says the u.s. should put armed guards in all schools. the comments came one week after 20 children and seven
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